Tolkien fans, rejoice: The new trailer for the sequel to 2012’s The Hobbit: An Unexpected Journey is here, and this time Peter Jackson joins forces with horror- and fantasy-loving director Guillermo del Toro for a more darkly visualized tale. The Hobbit: The Desolation of Smaug, starring Martin Freeman, Orlando Bloom, Evangeline Lily and Sir Ian McKellan, follows Bilbo, the Dwarves and Gandalf as they as they make their way out of Misty Mountains and attempt to get their gold back from the dragon, Smaug.

Watch the trailer below and keep an eye out for Lily’s sick sword-fighting battle, the very Pan’s Labyrinth scene between Bilbo and the Smaug and, yes, Orlando’s long silver locks. That hair!

What do you think about the latest trailer? What are you most excited to see in the upcoming film?